Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a487341

Lloyds puts 60% St James's Place stake on the market

by Dylan Lobo on Apr 18, 2011 at 11:27

Lloyds puts 60% St James's Place stake on the market

Lloyds Banking Group is looking for a buyer for its 60% stake in St James’s Place (SJP), according to the Sunday Express.

The report suggests SJP is valued at an estimated £1 billion but is not considered a core asset by new Lloyds chief executive Antonio Horta-Osorio (pictured).

The Express claimed SJP would be sold via either a public offering or offered to a select group of buyers.

Lloyds recently announced the sale of a number of businesses although most of these have been related to its acquisition and integration of HBOS.

Last week it announced 325 jobs were to go as part of the integration, following its announcement last month it was cutting 570 jobs and would close the Cheltenham & Gloucester (C&G) mortgage range sold through advisers.

SJP recently announced the appointment of Colin Jelley as private client director and Vivian Bazalgette as a non-executive director.

A Lloyds spokesman said the group would not comment on market speculation.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Sponsored Video: Barings on investing in Frontier Markets


From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.

More about this:

Look up the shares

  • Lloyds Banking Group PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • HBOS Plc
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet